1. Pre-debate jitters weigh down global stocks
Global stocks slipped on Monday as investors awaited the first presidential debate between Republican Donald Trump and Democrat Hillary Clinton. Analysts expect Monday's debate, the first of three before the November election, to set television audience records, and possibly have an unusually large impact on the vote. One analyst said a strong performance by the unpredictable Trump could spark "a rally in safe haven assets." With polls showing a tight race, "the market may react to a perceived shift in momentum," said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research.
2. Rolling Stone sells 49 percent stake to outside investor
Rolling Stone founder Jann Wenner is selling a 49 percent stake in the magazine to a Singapore-based digital music startup, BandLab, owned by Kuok Meng Ru, the 28-year-old son of palm oil billionaire Kuok Khoon Hong. The deal marks the first time in 50 years that Wenner has brought in an outside investor. The iconic music magazine, like other one-time publishing powerhouses, has lost advertising and readers to online competitors, and Wenner reportedly plans to sell the biggest stake possible without losing control of his company, which also owns Us Weekly and Men’s Journal.
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3. Oil prices firm up ahead of oil producer meeting
Oil prices edged higher early Monday as representatives of the world's leading oil-producing countries gathered in Algeria for talks on limiting output to ease a global glut. Prices dropped by nearly five percent last week due to signs that Saudi Arabia had made little progress on reaching a deal with Iran to freeze production. Algerian energy minister Noureddine Bouterfa vowed Sunday not to "come out of the meeting empty-handed."
4. British executives consider moves over Brexit
A majority of CEOs in Britain have considered moving at least some of their business out of the U.K. over concerns about the country's exit from the European Union, according to research by KPMG. Three-quarters of the 100 executives interviewed by the professional service company said they would consider relocating their headquarters or some other part of their operations. "We hear it time and time again that business needs certainty," said Simon Collins, KPMG's U.K. chairman.
5. Millions rise out of poverty as employers add jobs, raise pay
About 3.5 million Americans lifted their incomes above the poverty line last year, according to newly released census data. The change came as employers — especially retailers, restaurants, and hotels — hired more workers and increased wages, both to attract workers and to meet higher minimum wages in some areas. "It all came together at the same time," said independent business economist Diane Swonk. "Lots of employment and wages gains, particularly in the lowest-paying end of the jobs spectrum, combined with minimum-wage increases that started to hit some very large population areas."
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